Puppets Told To Hit The Bricks
Saturday, February 18th, 2006Tony winner Avenue Q will end its current run at Wynn Las Vegas on May 27th. In a previous post, I had opined that Vegas would become a force in musical theater and would likely be an asset to NY based productions. I still feel the same way. While much of the theatrical press was reporting this as a failure of the Vegas musical model, that doesn’t quite fit the facts. I think this represents more a change of business model on the part of Steve Wynn and less on the musical theater model of Vegas.
What I think supports this are a couple of things. First, the show was profitable. According to the producers, the show was doing as well as the B-way show financially as well as other musicals currently running in Vegas. The problem I think, is that Wynn paid too much to get an exclusive, didn’t fully or properly promote it until well into the run and later figured out that the same sort of model he used to get Avenue Q and also used to get Spamalot wasn’t fiscally sound. Initially Spamalot was to be in a purpose built theater in addition to Avenue Q but in the planning phase Wynn realized that the exclusive deals cut made the productions too much a gamble (pardon the pun) and opted not to build another 80 million plus dollar theater to house a production that might not return the enthusiastic expectations of people coming to Vegas specifically for theater. I see this more to do with specific issues with the financial and business model situation at Wynn Las Vegas rather than a failure of musical theater in Vegas. Wynn is adjusting his business to the current climate and if not for the signing of Spamalot, it’s likely that Avenue Q would have continued in the Broadway Theater at Wynn Las Vegas.
From an exclusive podcast at The Strip Podcast, Wynn was kind enough to elaborate in an interview with Steve Friess. It was the basis for a Newsweek article but contained enough Wynn spin to require a Varsity sized dose of Dramamine. Not that I don’t respect the guy, I do. I tried to get a couple of gigs at his place and think he’s one of the few true visionaries left in town. Wynn is doing what he does best, roll with the punches and change it up to meet the current situation. In the podcast, Wynn waxes that he loves the show, but as a business decision it makes more sense to not build the Grail Theater from the ground up and keep his 250k sq ft convention center space in a contiguous config. Convention and exhibit space still rules the roost in this town, in terms of return on investment. There is also the fact that most of the construction projects in town are delayed, or at least hobbled by the lack of available skilled labor. Most of the high profile casino/condo projects are being delayed due to the lack of a workforce to build the projects. Wynn couldn’t build the Grail Theater fast enough and also fit it into a config suitable to his new building and it was easier to buy Aveune Q out of the existing contract than continue on the planned course. I think what this shows, more than anything else, is that the exclusive deals that Wynn signed for those two shows was a poor business decision. People aren’t going to flock to Vegas to see a show that won’t likely tour in their hometown, but will still see a show that they are interested in seeing. All’s not lost, it’s possible that Avenue Q will reopen in another room in town. If the sports book at South Coast was taking bets, I’d throw down.
Based on a few reports from the theater elite in NY, this signifies that the so called “Las Vegas audience” isn’t ready for such seemly high brow affair. Bullshit, I say. We get the same tourists they get in Manhattan. And the bridge and tunnel crowd isn’t any more highbrow than those that come into Vegas from So Cal or the Bay Area. While it is a different experience, I think the self absorbed, arrogant prats that make up most of the Broadway “journalistic” scene are more jealous than anything that any place other than the vaunted Great White Way could have any sort of influence on the theatrical business. To hear some tell the tale, this is the beginning of the end of musical theater in Vegas. Horseshit. Hairspray just opened, to rave reveiws and pleased crowds. (thanks John for the tix) Vegas is a force to be reckoned with.
Betting against Vegas is like shoveling your money into a furnace.